This is not a good look! The U.S. Postal Service continues to deliver bad news! Now its proposing job cuts of as many as 120,000 workers in an attempt to save money.
Projecting to lose more than $8 billion for the second straight year, the USPS also wants to set up its own health plan, pulling employees out of the federal system.
The service will need Congressional approval for the cuts, and can expect to face a fight from postal unions with contracts that forbid layoffs.
Declining use of the mail is one reason USPS is suffering the massive losses. Also, the service has announced it can’t cover a $5.5 billion payment, due Sept. 30, needed to cover employee health coverage.
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